In a report released yesterday, Etzer Darout from BMO Capital maintained a Buy rating on Acrivon Therapeutics, Inc. (ACRV – Research Report), with a price target of $18.00.
Etzer Darout has given his Buy rating due to a combination of factors surrounding Acrivon Therapeutics, Inc.’s promising drug discovery platform and the advancement of its clinical trials. Darout views the company’s AP3 platform as a potentially unique approach in precision medicine, which could revolutionize drug-sensitive patient selection across various drugs and indications. The recent FDA Breakthrough Device Designation for ACR-368’s OncoSignature assay in ovarian cancer is seen as a significant validation of ACRV’s platform and its broad application potential.
Furthermore, ACRV’s lead asset, ACR-368, is making progress in a Phase 2 trial aimed at treating ovarian, bladder, and endometrial cancers and is expected to present more mature data soon. Alongside this, ACRV’s internally developed dual inhibitor, ACR-2316, appears to be differentiated from other products in the market, with rapid development progress towards an Investigational New Drug application. Preclinical data suggests superior anti-tumor activities, adding to Darout’s positive outlook on ACRV’s ability to deliver meaningful upside in the near term.
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Acrivon Therapeutics, Inc. (ACRV) Company Description:
Acrivon Therapeutics Inc is a clinical-stage biopharmaceutical company developing oncology medicines that the Company matches to patients whose tumors are predicted to be sensitive to each specific medicine by utilizing its proteomics-based patient responder identification platform. The company’s pipeline includes the Phase 2 lead program, ACR-368, referred to as prexasertib, a targeted oncology asset, as well as preclinical stage pipeline programs targeting critical nodes in the DNA Damage Response and cell cycle regulation pathways, including WEE1, a protein kinase, and PKMYT1, a closely related protein serine/threonine kinase.
Read More on ACRV:
- Acrivon Therapeutics appoints Cuillerot as Chief Medical Officer
- Acrivon Therapeutics assumed with a Buy at Jefferies
- Acrivon Therapeutics files $300M mixed securities shelf
- Acrivon Therapeutics announces FDA has granted BDD for ACR-368
- Acrivon Therapeutics Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
